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Receiving payment creates 0$ uncleared transaction.

SteveSJ

Hi All,
Total accounting newbie here. I have a new sole proprietor service business and do not have a business bank account. My banking needs are very simple. I have created a business account to create and track invoices and sales tax in quicken, and receive payments into my personal bank account.
When I "Receive Payment" in my customer invoice form and try to clear it against a payment received in my personal account register, quicken creates a new 0$ uncleared transaction in my personal account register. Am I doing something wrong? Is there a better way to set this up?
Appreciate any help thanks!

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Comments

Quicken Francisco

Hello @SteveSJ

Thank you for reaching out on the community and telling us about your issue. I do apologize for the issue you're having. Are you getting this extra transaction in addition to the payment you're receiving or only one transaction? If you wouldn't mind could you take a screenshot of the transaction and any additional information as well.

https://community.quicken.com/discussion/7867159/faq-how-do-i-post-a-screenshot-in-the-community-from-windows#latest

Once you get the chance let us know what you're able to find out. From there we'll see what we able to find next.

Thanks,

Quicken Francisco

SteveSJ

Edge or Chrome: the tools shown in the link above for posting a pic aren't anywhere on this page.

I have managed to mess up my actual bank register by using the received payments button in the business - customer invoices register form. The money has been moved from the bank register and deducted from the balance. I am now showing a balance that's off by about 25k. I may start a new file.

Perhaps if I tell you what I want, you can explain the best way to get there:
I have one personal bank account for day to day transactions and payments.
I need to write invoices and track payments.
When I receive a payment in my personal bank account and it sync's to my bank register in quicken, I need to apply those funds to the respective invoice(s) and show them as cleared without moving the money out of my personal bank account register.

I have created a test file and it seems that this works well if I receive a payment in the invoice form and it manually puts the transaction in the checking register. This method might work for me but I'll have to delete the sync'd transaction.
Got a better way? Please and thanks!

Quicken_Tyka

Hello @SteveSJ

Thank you for the response and the additional details.

To learn more about receiving a customer payment, please the information available here as well as here.

As for sharing screenshots, you may drag the screenshot directly to the comment box to share the image with the Community.

I hope this helps!

-Quicken Tyka